Wednesday, April 27, 2011

Paul Krugman says that the People’s (Progressive) Budget is the only game in town, i.e. Washington D.C.

This quote below is from the PROGRESS REPORT. The short statement concerning what Paul Krugman has made should be listened to by any thinking American as of now. But, please see Krugman’s actual statement at the NY Times–KAS

New York Times columnist Paul Krugman says the Congressional Progressive Caucus (CPC) budget proposal is the ” only major budget proposal out there offering a plausible path to balancing the budget.” Krugman writes that serious deficit reduction must include raising revenues and that the CPC budget does exactly that.A new International Monetary Fund (IMF) analysis concludes that “China’s economy will surpass that of America in real terms in 2016 — just five years from now.” The IMF estimates that under purchasing power parity, the Chinese economy will expand to $19 trillion in 2016 while the U.S. economy will expand to $18.8 trillion.The Senate is moving a bill to cut the number of administration posts that are subject to Senate approval , a “rare voluntary surrender of Congressional clout” that is backed by Senate Majority Leader Harry Reid (D-NV) and Minority Leader Mitch McConnell (R-KY). “We are losing very good people because the process has become so onerous, so lengthy and so duplicative,” said Sen. Susan Collins (R-ME).